Prospects Newsletter

September 28, 2017
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For businesses across Canada, the fall of 2017 will bring a dramatic shift to privacy and cyber security regulations. That’s when an amendment to Canada’s Personal Information Protection and Electronic Document Act (PIPEDA), the federal privacy law for private-sector organizations, will finally take effect. Moving forward, businesses that experience a data breach but neglect their responsibilities under the new amendment could quickly find themselves in hot water...

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September 20, 2017
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There is no mistaking that, by now, most consumers have at least a passing awareness of cyber threats.

Two other things also are true: All too many people fail to take simple steps to stay safer online; and individuals who become a victim of identity theft, in whatever form, tend to be baffled about what to do...

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September 15, 2017
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What happened?Equifax, a consumer credit reporting company, discovered a breach in its online systems that could impact 143 million consumers.

When did the breach occur?The breach occurred from mid-May to July and was discovered on July 29. Equifax alerted the public on Sept. 7.

What information was involved?Hackers gained access to files with names, birth dates, Social Security numbers (SSN), driver’s licenses and addresses....

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September 15, 2017
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The massive Equifax data breach that compromised 143 million personal records has triggered nearly two dozen class-action lawsuits claiming personal harm to consumers.

But businesses also have cause for concern. Many depend on information from the three major credit bureaus to approve consumer credit and employee security privileges, as well as to verify identifies. The breach compromises the risk analysis and identity...

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August 17, 2017
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When Apple announced a serious hardware flaw last week, and the critical security patch that addressed it, my first thought was perhaps arbitrary: “That exploit would work at the gym.” My next thought: what else would?

The discovery of a zero-day exploit affecting hardware—specifically a WiFi chip embedded in the main processors of Apple...

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August 10, 2017
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In the past couple of years, third-party risk has grown from a topic only discussed by cybersecurity circles to a companywide concern. The tipping point may have been in 2014 when Target’s point-of-sale (POS) system was compromised, and the details of 110 million in-store customers were stolen.

How did the hackers do it? They were able to embed ...

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August 7, 2017
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If you work in Maine, Arizona, Texas or Alabama, you have a greater chance of malware encounters than in other states. Researchers with Malwarebytes found that geographic location matters when it comes to who gets targeted for malware attacks. These states have a higher rate of industries most often targeted for malware, including aerospace, automotive, health care, technology and oil and gas.

What’s more, geographic location...

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August 4, 2017
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“These apps are brutal,” Ondrej Krehel told me during a conversation about spyware, or “spouseware” as the software is sometimes called.

“It doesn’t matter what ‘intended use’ these app developers claim in their sales pitches. They are increasingly being used by teens to spy on their love interests,” Krehel said. “It’s quite prevalent.”

Krehel is CEO and founder of LIFARS, a digital forensics...

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July 20, 2017
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What happened?

A new ransomware attack created computer chaos worldwide—though primarily in Europe —on June 27. The outbreak, dubbed both GoldenEye and Petya by researchers, is being compared to WannaCry. While antivirus firms and IT departments struggle to get the outbreak under control, there’s still some debate about how it works and how it spreads. But in some ways, the virus is even more powerful, and more nasty, than WannaCry.

The list of victims is...

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July 18, 2017
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The countdown has begun. In less than a year, tough new rules on data protection will come into effect for the European Union. For the first time, companies will be required to notify regulatory authorities, and potentially consumers, in the event of a significant cyber breach.

In elevating the rights of consumers, the EU General Data Protection Regulation (GDPR) represents a sea change in how companies will have to operate—and...

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